Bookkeeping

These advancements help accounting professionals improve efficiency, accuracy, and collaboration, allowing them to focus on delivering value-added services to their clients. Moreover, IT integration allows various software systems to work together, providing more comprehensive solutions for accounting needs. This integration ensures seamless data transfer between different platforms, such as invoicing software, payroll systems, QuickBooks and …

What Is Business Accounting? And How to Manage Yours Read More »

There are several types of notes receivable that arise from different economic transactions. For example, trade notes receivable result from written obligations by a firm’s customers. Notes receivable are written commitments made by individuals or businesses to pay a specific amount of money at a predetermined date or upon request. Instead, a new note receivable …

Accounting for Notes Receivable Read More »

The updated federal tax withholding tables, released in early 2018, largely reflected the lower tax rates and the increased standard deduction brought about by the new law. This generally meant taxpayers had less Estimated Tax tax withheld in 2018 and saw more in their paychecks. However, the withholding tables couldn’t fully factor in other changes, such as the suspension of dependency exemptions and reduced itemized deductions. …

Estimated Tax Payments: How They Work And When To Pay Them Read More »

To make an adjusting entry for wages paid to an employee at the end of an accounting period, an adjusting journal entry will debit wages expense and credit wages payable. Adjusting entries, or adjusting journal entries (AJE), are made to update the accounts and bring them to their correct balances. The preparation of adjusting entries …

Adjusting Entries: A Simple Introduction Bench Accounting Read More »

This process involves cross-referencing bank statements, invoices, and receipts to identify any discrepancies or missing transactions. By meticulously comparing the records, businesses can pinpoint any undeposited funds, which may have resulted from delayed deposits or unrecorded income. In the bank deposit form, you will see a list of the payments currently stored in your undeposited …

Solved: Remove erroneous undeposited funds in QuickBooks Desktop Read More »